Events have long been used to make a splash – to set your brand apart from the rest and to gain more custom. The only problem that marketers find is how to work out if your event is working for your brand and how to measure this?
Event marketing metrics act as a map, and they indicate where your event needs to improve or where it is flourishing. Get to grips with your event data and make sure your events go from strength to strength.
1) Opened invitations and RSVP Conversions
Email marketing campaign software like ‘SendInBlue’ can generate a set of metrics revealing recipients, openers, clickers and unsubscribed. All of which can give you an indication of how well your event theme and topic are being received.
Emails need to be designed in such a way that it appeals to your target audience – any typos or wrong names will likely affect your conversion rates. This is often one of the first steps in the event marketing chain – however if this goes wrong your whole event is doomed. Your email needs to be so enticing and interesting that the receiver has an urge to open your email and clicks to attend your event.
2) Event Attendance
Event attendance is an obvious event marketing metric as it is a useful way to measure the pull of the event. An event’s attendance rate is a basic indicator of your event’s success, however a sold out event does not necessarily mean that your event is a total success.
Although you are part of the way there by getting the bodies to the event, this does not necessarily mean that your message is well received or engaging. It’s like going to a bad restaurant – you would have gone thinking it was going to be better than it was, but you decide whilst there that it is awful and you won’t come back. Bodies at events does not mean you are converting them into quality leads.
3) Social Media Hype
Social Media has its own set of metrics – and you should use them! Twitter, Facebook, LinkedIn etc. all generate their own analytics making the data easily accessible and digestible. The number of metrics that social media have to offer are endless so it’s best to select a set of Key Performance Indicators (KPI’s) that are suitable for your attendees.
The social ‘buzz’ around the event suggests engagement and interest in your message. People don’t talk about stuff that they have no interest in – fact. A good amount of mentions, likes, shares in correlation to the number of your attendees means that you have most likely developed a good brand relationship.
4) Lead Generation
The objective of most events is to develop new leads or maintain old ones. You can measure an event’s ability to generate new leads by the amount of emails and contacts you acquire. However, the measurement of success is the conversion from just an email address to a client.
Getting a mass of email addresses from your event does not mean that you have generated a lot of leads. Quality leads are what you are after – those who are likely to be converted to clients and will enhance your revenue.
Revenue is seen as the focal point of most aspects of business. Working out the cost per attendee is a metric to gauge how much money you had to pay to obtain the attendees. This figure can indicate if you are cost effective in terms of the number of attendees you can bring to your event.
The comparative between the total expenditure of the event to the amount of revenue the event generates is another metric that event marketers should use. This comparative demonstrates whether the event has been successful or not in generating more business for you – the goal of every event!
Knowing your prospective clients wants and needs is key to enhancing growth and effective marketing. These five metrics will enable you to measure your event’s success and will help you to improve your future events. For more information on measuring your event ROI click here.